T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, January 20, 2018, Vol. 22, No. 19
REAL INDUSTRY: Incurs $2.11 Million Net Loss at Nov. 30
REAL INDUSTRY: Incurs $2.11 Million Net Loss at Nov. 30
Real Industry, Inc., et al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for the period
from November 17, 2017, to November 30, 2017.
The Debtors' consolidated statement of operations showed a net loss
of $2.11 million on $23.27 million of revenue for the period.
As of November 30, 2017, the Debtors listed $517.14 million in
consolidated total assets, $538.62 million in consolidated total
liabilities, and -$21.48 million in consolidated total
At November 17, 2017, Real Industry had $3.03 million in beginning
cash balance. It listed total cash receipts of $4,618 and total
cash disbursements of $68,426. At November 30, 2017, Real Industry
had $9.69 million in ending cash balance.
A copy of the monthly operating report is available at the SEC at:
About Real Industry Inc.
Real Industry, Inc. -- http://www.realindustryinc.com/-- is a
Delaware holding company that operates through its subsidiaries.
Its current business focus is supporting the performance of Real
Alloy, an aluminum recycling company and its single largest
operating business, and to make acquisitions of additional
operating companies. The company regularly considers acquisitions
of businesses that operate in undervalued industries, as well as
businesses that it believes are in transition or are otherwise
misunderstood by the marketplace. As a holding company, Real
Industry relies on the operations of its subsidiaries and external
financing sources for its liquidity needs.
Real Industry, Inc., and eight affiliated debtors each filed a
voluntary petition for relief under Chapter 11 of the United States
Bankruptcy Code (Bankr. D. Del. Lead Case No. 17-12464) on Nov. 17,
2017. The cases are pending before the Honorable Kevin J. Carey.
The Debtors tapped Morrison & Foerster LLP as legal counsel; Saul
Ewing Arnstein & Lehr LLP as co-counsel; Berkeley Research Group,
LLC as financial advisor; Jefferies LLC as investment banker; and
Prime Clerk as administrative advisor.
The Ad Hoc Noteholder Group whose members include DDJ Capital
Management, LLC, Osterweis Capital Management, HPS Investment
Partners, LLC, Hotchkis & Wiley Capital Management, and Southpaw
Credit Opportunity Master Fund L.P., hired Latham & Watkins LLP and
Young Conway Stargatt & Taylor LLP to represent it in the Chapter
11 bankruptcy cases of Real Industry, Inc., and its affiliates.
Andrew S. Vara, Acting U.S. Trustee for Region 3, appointed five
creditors to serve on the Official Committee of Unsecured Creditors
in the Chapter 11 cases of Real Industry, Inc., and its
debtor-affiliates. The Committee hired Duane Morris LLP, as
Delaware counsel, Brown Rudnick LLP, as co-counsel, Goldin
Associates, LLC, as financial advisor, Stifel Nicolaus & Co., Inc.,
as investment banker.
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